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---------------------- Forwarded by Sara Shackleton/HOU/ECT on 02/09/2000=
=20 05:33 PM --------------------------- "SmartPortfolio.Com" <admin_update@smartportfolio.com< on 02/09/2000 07:36:= 07=20 PM Please respond to "SmartPortfolio.Com" <admin_update@smartportfolio.com< To: Sara Shackleton/HOU/ECT@ECT cc: =20 Subject: SmartPortfolio.Com Update: Tech Stocks Lead Market Sell Off The following is a FREE service brought to you by SmartPortfolio.Com, located on the Web at http://www.smartportfolio.com <A HREF=3D"http://www.smartportfolio.com"<AOL users click here</A< Update February 9, 2000 Wednesday's Market Update: Tech Stocks Lead Market Sell Off 1. Wednesday's Market Action 2. Internet and Tech Stocks 3. Notable Earnings Announcements 4. Notable Upgrades and Downgrades 5. Stock Splits 6. IPO Commentary 7. IPOs Trading Wednesday 8. IPO Calendar ********************** Advertisement ************************** Cisco Systems Hits All-Time High After Announcing Stock Split! The world's leading networking equipment maker, Cisco Systems (Nasdaq:CSCO), announced a 2-for-1 stock split after reporting better than expected earnings yesterday. The news propelled Cisco shares to an all-time high today. Readers of the Smart!Splits Report were told that Cisco might announce a stock split in conjunction with earnings. To get your free trial of the Smart!Splits Report and to learn about upcoming splits BEFORE they are announced, visit: http://www.smartportfolio.com/freetrials <A REF=3D"http://www.smartportfolio.com/freetrials"< AOL users click here</A< *************************************************************** Need this report sooner? Please remember that you can always read the update on our web site at http://www.smartportfolio.com/update The update is posted at approximately 6:00 PM EST every day. 1. Wednesday's Market Action $ Change % Change Close Dow Jones Industrials -258.44 -2.36% 10699.16 S&P 500 -30.03 -2.08% 1411.69 Nasdaq -64.26 -1.45% 4363.24 Internet Stock Index -2.00 -0.22% 922.33 The Dow sold off this afternoon while the Nasdaq reversed strong gains from earlier in the day, as investors chose to take a portion of their profits and run amid increasing investor concern surrounding Internet security (see "Tech and Internet Stocks" below for more information). The bond markets reacted strongly to comments from U.S. Treasury Secretary Lawrence Summers, who said the U.S. government would buy back securities on all parts of the yield curve (both short-term and long-term), not just the 30-year bond, to pay down government debt. The statements caused long bond rates to jump considerably, which contributed to a sell off in stocks. The financial sector was particularly weak, with American Express (NYSE:AXP) off 6 7/16 (- 3.95%) to 156 9/16, Citigroup (NYSE:C) down 1 13/16 (-3.24%) to 54 3/16, JP Morgan (NYSE:JPM) lower by 2 15/16 (-2.46%) to 116 9/16, Morgan Stanley Dean Witter (NYSE:MWD) declining 5/8 (-0.92%) to 67 3/16. Shares of Cisco Systems (Nasdaq:CSCO) bolted early in the day but then gave up some of its gains, closing up 3 (+2.38%) to 128 13/16. The networking equipment giant announced fourth quarter earnings of 25 cents per share late yesterday, beating First Call consensus estimates of 24 cents per share. The company also set a 2-for-1 stock split, its ninth split since Cisco first became a public company in February 1990. The jump in Cisco's stock price catapulted the company to the second-largest market capitalization position, ahead of General Electric (NYSE:GE) and behind only Microsoft Corp. (Nasdaq:MSFT). Credit Suisse First Boston analyst Paul Weinstein speculated that Cisco could become the first trillion-dollar company. The most recent issue of the Smart!Splits Report forecasted the Cisco stock split. To read about anticipated and announced stock splits for a host of companies every week, investors are invited to try a 2-week free trial of the Smart!Splits Report by visiting: http://www.smartportfolio.com/freetrial <A REF=3D"http://www.smartportfolio.com/freetrials"< AOL users click here</A< In leading Dow action, Boeing (NYSE:BA) shares fell 1 13/16 (-4.44%) to 39 after thousands of the aerospace giant's engineers and technical workers struck on Wednesday, IBM (NYSE:IBM) shares gave in to tech sector profit taking, falling 1 7/16 (-1.21%) to 117 3/8; and International Paper (NYSE:IP) shares sank 1 7/8 (-4.17%) to 43 1/8. On the positive side, Philip Morris (NYSE:MO) shares bounced back 1/8 (+0.64%) to 19 5/8 today and SBC Communications (NYSE:SBC) shares edged up 3/4 (+1.78%) to 42 13/16. 2. Internet and Tech Stocks For a FREE trial to SmartPortfolio.Com's in-depth analysis of selected Internet stocks, please visit: http://www.smartportfolio.com/freetrial <A HREF=3D"http://www.smartportfolio.com/freetrial"<AOL users click here</A< The tech sector succumbed to profit taking, with Intel Corp. (Nasdaq:INTC) down 4 3/16 (-3.85%) to 104 5/8, Motorola (NYSE:MOT) off 6 7/8 (-4.30%) to 153, Hewlett-Packard (NYSE:HWP) edging lower by 3/16 (-0.15%) to 124, and Lucent Technologies (NYSE:LU) down 1 3/8 (-2.54%) to 52 13/16. However, several big tech names bucked the downward trend. One notable exception was Cisco Systems (discussed above), but another strong performer was Sun Microsystems (Nasdaq:SUNW), whose shares climbed 4 9/16 (+5.24%) to 91 9/16 after the company's Chief Financial Officer told an analyst meeting that Sun is looking to bolster is revenues substantially. The Internet world was rattled again today by continued attacks from hackers on leading Web sites. In recent days, the Web sites of Yahoo! (Nasdaq:YHOO), Amazon.com (Nasdaq:AMZN), and eBay (Nasdaq:EBAY) were disrupted by hackers, who were apparently also the culprits for the embarrassing outage on Buy.com's (Nasdaq:BUYX) site on the day of its initial public offering. Today, online brokers were the targets, as the sites of Etrade (Nasdaq:EGRP), the #2 U.S. online broker, and Datek Online, the #4 U.S. online broker, were impacted for a period of time. The companies involved were victims of "denial of service attacks", whereby their sites became overwhelmed by traffic. Yahoo's site, for instance, was flooded when it received one gigabit, or one million bits of information, per second. The Federal Bureau of Investigation, along with U.S. Attorney General Janet Reno, held a press conference to calm the public and announce a criminal investigation. Investors did not react well to news of continued hacker activity, with Amazon.com shares falling 2 7/8 (-3.46%) to 80 1/4, Yahoo! shares losing 10 13/16 (-2.90%) to 362 5/16, eBay shares off 5 3/4 (-3.39%) to 164, and Etrade shares losing 1 1/8 (-4.89%) to 21 7/8. Meanwhile, stocks of companies that provide Internet security services benefited from the news, as Check Point Software Technologies (Nasdaq:CHKP) rose 7 15/16 (+5.67%) to 148, ISS Group (Nasdaq:ISSX) gained 7 7/8 (+10.66%) to 81 3/4, Watchguard Technologies (Nasdaq:WGRD) surged 46.10% (up 15 1/2) to 49 1/8, AXENT Technologies (Nasdaq:AXNT) bolted 21.51% (up 5) to 28 1/4, and Sonic WALL (Nasdaq:SNWL) jumped 16.87% (up 10 1/2) to 72 3/4. Shares of SoftNet Systems (Nasdaq:SOFN) fell 2 5/16 (-5.20%) to 42 3/16 despite the company's announcement of a major alliance with several leading Internet companies. SoftNet, which is a leading broadband services provider, said it has joined forces with CMGI (Nasdaq:CMGI), Compaq Computer (NYSE:CPQ), Nokia (NYSE:NOK) and Cisco Systems to create SoftNet Zone, which is aimed at providing fast, easy and secure mobile computing and Internet services to business travelers. Other big movers in the tech sector included AT&T (NYSE:T), down 1 9/16 (-3.10%) to 48 13/16, Informix Corp. (Nasdaq:IFMX), up 8.62% (up 1 1/4) to 15 3/4, Juniper Networks (Nasdaq:JNPR), up 10.83% (up 18 3/8) to 188, and Nortel Networks (NYSE:NT), up 3/4 (+0.62%) to 121 3/4 on heavy volume. Leading Internet and tech stocks performed as follows: Company $ Change % Change Close Amazon (Nasdaq:AMZN) -2 7/8 -3.46% 80 1/4 America Online (NYSE:AOL) -1 1/16 -1.80% 58 Commerce One (Nasdaq:CMRC) -9 3/4 -5.90% 155 3/8 Cisco (Nasdaq:CSCO) +3 +2.38% 128 13/16 CMGI (Nasdaq:CMGI) -5 1/8 -4.09% 120 1/4 Dell (Nasdaq:DELL) -1 1/2 -4.05% 35 9/16 Ebay (Nasdaq:EBAY) -5 3/4 -3.39% 164 ExciteAtHome (Nasdaq:ATHM) -1 1/4 -3.42% 35 1/4 Exodus (Nasdaq:EXDS) -5 15/16 -4.68% 121 Intel (Nasdaq:INTC) -4 3/16 -3.85% 104 5/8 Juniper (Nasdaq:JNPR) +16 5/16 +9.62% 185 15/16 Lucent (NYSE:LU) -1 7/16 -2.65% 52 3/4 Microsoft (Nasdaq:MSFT) -5 15/16 -5.40% 104 Oracle (Nasdaq:ORCL) +3/8 +0.63% 59 15/16 Schwab (NYSE:SCH) -1 3/4 -4.43% 37 3/4 Sun Micro. (Nasdaq:SUNW) +4 9/16 +5.24% 91 9/16 Qualcomm (Nasdasq:QCOM) -5 3/4 -4.13% 133 5/16 Qwest (NYSE:Q) +1/4 +0.56% 45 1/4 Yahoo (Nasdaq:YHOO) -10 13/16 -2.90% 362 5/16 ************************ Advertisement **************************** FASTEST GROWING ONLINE BROKER CyBerCorp.com, the fastest-growing online broker in 1999, according to Piper Jaffray & Co. research, delivers level II quotes and trades, smart order routing to all the major ECNs and Market Makers, as well as, real-time analytics and advanced stock screening. Click the link below to test drive the CyBerX and CyBerTrader simulators today. http://www.cybercorp.com/home.html?sp ******************************************************************** 3. Notable Earnings Announcements For a calendar of recent and upcoming earnings announcements, please visit: http://www.smartportfolio.com/earnings.asp <A HREF=3D"http://www.smartportfolio.com/earnings.asp"<AOL users click here</A< PepsiCo (NYSE:PEP) announced that its fourth quarter earnings rose 28% to 33 cents per share, beating First Call consensus estimates of 31 cents. Shares of the owner of popular snack food and soft drink brands, such as Lay's, Ruffles Frito's, Pepsi and Mountain Dew, closed up 11/16 (+2.06%) to 34. Allstate Corp. (NYSE:ALL) posted an 18% decline in fourth quarter profits to 66 cents per share, but the results were ahead of First Call consensus estimates of 64 cents. Shares of the #2 U.S. property- casualty insurer lost 2 1/8 (-9.66%) to 19 7/8. Goodyear Tire & Rubber Co. (NYSE:GT) reported that its fourth quarter earnings dropped substantially to 30 cents per share, although the results were 2 cents better than First Call consensus estimates of 28 cents. Shares of the world's biggest tire maker gained 11/16 (+3.12%) to 22 3/4. Humana Inc. (NYSE:HUM) announced that its fourth quarter earnings came in at 15 cents per share, which was ahead of First Call consensus estimates of 13 cents. Shares of the managed health care company lost 5/8 (-7.63%) to 7 9/16. MarketWatch.com (Nasdaq:MKTW) reported a quarterly loss of 64 cents per share, beating Wall Street estimates of a greater loss of 66 cents per share. Revenues increased by 300% compared to the year ago period and page views also rose sharply. Shares of the online financial information provider dropped 8.61% (down 3 7/8) to 41 1/8. 4. Notable Upgrades and Downgrades For full coverage of today's upgrades, downgrades and coverage initiations, please click on the appropriate links below: -- Upgrades - http://www.smartportfolio.com/upgrades.asp <A HREF=3D"http://www.smartportfolio.com/upgrades.asp"<AOL users click here</A< Adolph Coors (NYSE:RKY) was upgraded by DLJ from buy to Top Pick. Shares of the beer maker were up 7/8 (up 1.87%) to 47 11/16. American International (NYSE:AIG) was upgraded by Salomon Smith Barney from outperform to buy. Shares were up 1 3/8 (up 1.43%) to 97 5/16. Nike (NYSE:NKE) was upgraded by FS Van Kasper from buy to strong buy. Shares were off 3 3/4 (down 10.14%) to 33 1/4. Qwest Communications (NYSE:Q) was upgraded by PaineWebber from neutral to buy. Shares were up 1/4 (up .56%) to 45 1/4. Barnesandnoble.com (Nasdaq:BNBN) was upgraded by Prudential from hold to accumulate. Shares were off 9/16 (down 5.06%) to 10 9/16. -- Downgrades - http://www.smartportfolio.com/downgrades.asp <A HREF=3D"http://www.smartportfolio.com/downgrades.asp"<AOL users click here</A< Aetna (NYSE:AET) was downgraded by Prudential from strong buy to hold. Shares of the insurance company slipped 3 1/2 (down 7.61%) to 42 1/2 amid concerns over international operations and profit margins. Allstate (NYSE:ALL) was downgraded by Salomon Smith Barney from buy to neutral. Shares were off 2 1/8 (down 9.66%) to 19 7/8. Boston Scientific (NYSE:BSX) was downgraded by First Union Securities from buy to hold and by Prudential from strong buy to hold. Shares were up 9.09% (up 1 3/4) to 21 amid speculation that the company may have an announcement regarding operations on Thursday. Nike (NYSE:NKE) was downgraded by Morgan Stanley Dean Witter from strong buy to outperform and by Thomas Weisel from strong buy to market perform. Shares were off 8.11% (down 3) to 34. Nike closed at a 52- week low. Venator Corp. (NYSE:Z) was downgraded by Merrill Lynch from near-term buy to near-term neutral. Shares of the retailer were off 3/8 (down 6.19%) to 5 11/16. -- Coverage Initiation http://www.smartportfolio.com/initiated.asp <A HREF=3D"http://www.smartportfolio.com/initiated.asp"<AOL users click here</A< ACTV (Nasdasq:IATV) was started by CS First Boston and Salomon Smith Barney as a buy; Lehman Brothers started ACTV as an outperform. Shares of ACTV were off 2 (5.37%) to 35 1/4. Applied Mico was started by Deutsche Banc Alex.Brown with a buy rating. Shares were up 4 3/4 (up 2.19%) to 222 1/8. Ariba (Nasdaq:ARBA) had coverage initiated by Salomon Smith Barney with a buy rating. Shares were off 1/2 (up .27%) to 188 3/4. Be Free (Nasdaq:BFRE) was started with a buy rating from Robertson Stephens. Shares were up 1 1/4 (up 1.14%) 111. Broadcom (Nasdaq:BRCM) was initiated by Deutsche Banc Alex Brown with a strong buy rating. Shares of the chipmaker were up 1 15/16 (up .58%) to 336 15/16. Chemdex Corp. (Nasdaq:CMDX) was started by First Union Securities with a buy rating. Shares of the b-2-b company that focuses on the chemical industry were up 1 5/8 (up 1.51%) to 109. Commerce One (Nasdaq:CMRC) was started with an outperform rating by Salomon Smith Barney. Shares of the leading b-2-b company were off 9 3/4 (down 5.90%) to 155 3/8. Fogdod (Nasdaq:FOGD) was started by Thomas Weisel with a buy rating. Shares were off 3/16 (down 1.57%) to 11 3/4. PMC Sierra (Nasdaq:PMCS) was started by Deutsche Banc Alex.Brown with a strong buy rating. Shares were up 18 1/4 (up 6.75%) to 288 5/8. Vitesse Semiconductor (Nasdaq:VTSS) was started with a buy rating. Shares of the company were up 5 13/16 (up 11.63%) to 55 13/16. 5. Stock Splits To obtain the latest information on stock splits, please visit: http://www.smartportfolio.com/splits <A HREF=3D"http://www.smartportfolio.com/splits"<AOL users click here</A< This chart shows the companies that will split their shares during the next 5 business days. The "Pay" column shows the payable date. The "Ex" column refers to the ex-date, the date on which the stock begins to trade at its split-adjusted price. The ratio refers to the number of split shares stockholders will receive (a 2:1 ratio means that stockholders will receive one additional share for each share they already hold). Company Pay Ex Ratio Magic Software (Nasdaq:MGIC) 2/10 2/11 3:1 Broadcom (Nasdaq:BRCM) 2/11 2/14 2:1 Mercury Interactive (Nasdaq:MERQ) 2/11 2/14 2:1 PMC-Sierra (Nasdaq:PMCS) 2/11 2/14 2:1 PSINet (Nasdaq:PSIX) 2/11 2/14 2:1 Real Networks (Nasdaq:RNWK) 2/11 2/14 2:1 Sycamore (Nasdaq:SCMR) 2/11 2/14 3:1 Yahoo! (Nasdaq:YHOO) 2/11 2/14 2:1 Infosys Technologies (Nasdaq:INFY) 2/14 2/15 2:1 Shaw Communications (NYSE:SJR) 2/14 2/15 2:1 Yellowave Corporation (Nasdaq:YWAV) 2/14 2/15 2:1 ADC Telecom (Nasdaq:ADCT) 2/15 2/16 2:1 Exar Corp. (Nasdaq:EXAR) 2/15 2/16 3:2 Hormel Foods (NYSE:HRL) 2/15 2/16 2:1 6. IPO Commentary The IPO market was off to the races again on Wednesday, as all 3 new issues trading ended significantly higher on the day. Delano Technology Corp (NASDAQ:DTEC), an email communications software provider, lead the way closing up 180.56% to 64, while Vicinity Corp (NASDAQ:VCNT), a provider of Internet-based marketing infrastructure services, soared 186.76% to 48 3/4. The IPO schedule for the rest of the week remains jam-packed with another 18 issues expected to begin trading. To find out which of the issues are expected to outperform, please subscribe to a free trial of the Smart!IPO Report at http://www.smartportfolio.com/freetrial <A HREF=3D"http://www.smartportfolio.com/freetrial"<AOL users click here.</A< 7. IPOs Trading Wednesday Delano Technology Corp (NASDAQ:DTEC) - Provides communications software that enables companies to use e-mail and the Internet to automate business processes and to personalize and manage interactions with their existing and prospective customers, partners, suppliers and employees. Price: 18 Open: 48 High: 64 Close: 50 1/2 Change: +32 1/2 (+180.56%) Landacorp Inc (NASDAQ:LCOR) - Offers business-to-business e-medical management solutions to healthcare payers and providers. Price: 10 Open: 16 High: 21 3/4 Close: 15 15/16 Change: +5 15/16 (+59.38%) Vicinity Corp (NASDAQ:VCNT) - Provider of Internet-based marketing infrastructure services. Price: 17 Open: 42 High: 53 Close: 48 3/4 Change: +31 3/4 (+186.76%) 8. IPO Calendar For a calendar of upcoming IPOs and extensive information concerning the IPO market, please visit: http://www.smartportfolio.com/ipo <A HREF=3D"http://www.smartportfolio.com/ipo"<AOL users click here.</A< *Indicates an Internet related issue. *2/9 - Lightspan Partnership Inc (NASDAQ:LSPN) - Provider of curriculum-based educational software and Internet products and services used both in school and at home. *2/10 - b2bstores.com Inc (NASDAQ:BTBC) - A branded Internet web site specifically designed to assist business customers in the operation and development of their businesses. 2/10 - Beasley Broadcast Group Inc (NASDAQ:BBGI) - The 16th largest radio broadcasting company in the United States based on 1998 gross revenues. *2/10 - Cypress Communications Inc (NASDAQ:CYCO) - A building-centric integrated communications provider serving small and medium-sized businesses in major metropolitan markets throughout the United States. 2/10 - Jeremy's Microbatch Ice Creams Inc (TBA)- Develops, markets and sells super-premium ice cream. *2/10 - Organic Inc (NASDAQ:OGNC) - An Internet professional services firm focused on the customer-to-business market. 2/10 - Precis Smart Card Systems Inc (NASDAQ:PSPS) - Develops and markets commercial software products used with a technology commonly referred to as "smart cards." *2/10 - Witness Systems Inc (NASDAQ:WITS) - Provider of recording and analysis software that enables companies to enhance their customer interactions across multiple communications media. *2/10 - XCare.net Inc (NASDAQ:XCAR) - Provider of Internet-based, business-to-business connectivity, information exchange and electronic commerce solutions for health care. *2/11 - Chordiant Software Inc (NASDAQ:CHOR) - Provider of e-business infrastructure software. 2/11 - Diversa Corp (NASDAQ:DVSA) - Discovers and develops novel enzymes and other biologically active compounds. 2/11 - FARGO Electronics Inc (NASDAQ:FRGO) - Developer, manufacturerand supplier of desktop systems and associated consumable supplies for the plastic card personalization and data encoding industry. *2/11 - FLAG Telecom Holdings Ltd (NASDAQ:FTHL) - A global carriers' carrier that develops and offers a broad range of innovative telecommunications products and services to licensed international carriers, Internet service providers and other telecommunications companies. *2/11 - Lante Corp (NASDAQ:LNTE) - An Internet services company that develops sophisticated technology-based solutions that enable emerging electronic markets. *2/11 - Pets.com Inc (NASDAQ:IPET) - An online retailer of pet products, integrating product sales with expert information on pets and their care. 2/10 - VantageMed Corp (NASDAQ:VMDC) - Provider of healthcare information systems and services distributed to over 10,000 customer sites through a national network of 15 regional offices. *2/11 - VarsityBooks.com (NASDAQ:VSTY) - Online retailer of new college textbooks and have established a platform for marketing products and services to the nation's 15 million college students. *2/11 - VIA NET.WORKS Inc (NASDAQ:VNWI) - An international provider of Internet access and services focused on small and mid- sized businesses in Europe and Latin America. *2/11 - WebMethods Inc (NASDAQ:WEBM) - Provider of infrastructure software and services that allow companies to achieve business-to- business integration. ********************** Advertisement ************************** Cisco Systems Hits All-Time High After Announcing Stock Split! The world's leading networking equipment maker, Cisco Systems (Nasdaq:CSCO), announced a 2-for-1 stock split after reporting better than expected earnings yesterday. The news propelled Cisco shares to an all-time high today. Readers of the Smart!Splits Report knew that Cisco might announce a stock split in conjunction with earnings =0F- why didn't you? To get your free trial of the Smart!Splits Report and to learn about upcoming splits BEFORE they are announced, visit: http://www.smartportfolio.com/freetrials <A REF=3D"http://www.smartportfolio.com/freetrials"< AOL users click here</A< *************************************************************** *************************************************************** PLEASE GIVE US YOUR FEEDBACK If you have any additional information that you would like us to include in our newsletter, any additional functionality added to our website, or any other comments in general, please let us know by clicking on the following link: http://www.smartportfolio.com/feedback *************************************************************** *************************************************************** ADVERTISE IN OUR NEWSLETTER Want to target an attractive demographic representing wealthy, astute, Internet-inclined investors? 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